ChainCatcher news, according to Bitcoin.com, the Texas Strategic Bitcoin Reserve Bill (Senate Bill 778) was submitted to the Senate Finance Committee for review on February 7. The bill was introduced by Senator Charles Schwertner and aims to establish a state-controlled Bitcoin reserve to enhance financial security and promote digital asset innovation. The main contents of the bill include:Authorizing the Texas government to hold Bitcoin as a financial asset;Allowing individuals, including state residents, to donate Bitcoin to the reserve to promote community co-investment;Managed by the Texas Comptroller's Office, implementing a cold storage plan and conducting regular audits;Prohibiting the acquisition of Bitcoin from foreign entities or individuals involved in illegal activities;In emergencies, the Governor or Legislative Budget Board may authorize the sale of Bitcoin from the reserve.In addition, the bill proposes the establishment of the Texas Strategic Bitcoin Reserve Advisory Committee, composed of state legislators and financial officials. The funding for the state legislature to purchase Bitcoin is capped at 1% of the Texas government's unrestricted general revenue balance every two years. If passed by a two-thirds majority, the bill will take effect immediately; otherwise, it will take effect on September 1, 2025.

ChainCatcher news, Missouri State Representative Ben Keathley has introduced the state's second Bitcoin reserve bill, proposing to allow the state to hold and accept Bitcoin payments.

ChainCatcher News, U.S. Senator Ant Thornton has submitted the "Strategic Bitcoin Reserve Act" to the New Mexico Senate, proposing to invest 5% of public funds in Bitcoin, aiming to establish an alternative treasury for the state. The proposed 5% allocation would diversify the state's funds and allow it to benefit from the long-term appreciation of Bitcoin's price.The bill also proposes that the Bitcoin reserve be managed by the state investment officer and operate under the oversight of the state investment council. The bill further outlines the necessity of cold storage as a viable means to protect the state's Bitcoin.

ChainCatcher news, according to Bitcoin Magazine on the X platform, U.S. Senator Cynthia Lummis stated that her "Bitcoin Strategic Reserve" bill is "the only viable solution that can reduce the national debt of the United States by half by 2045."

ChainCatcher news, according to information from the official website, the "U.S. Bitcoin Strategic Reserve Act" proposed by Senator Lummis·Cynthia has now been officially submitted to Congress and is under review by the Senate Banking Committee. The purpose of the bill is to "establish a strategic Bitcoin reserve and other projects to ensure the transparent management of federal government Bitcoin holdings, utilize certain resources of the Federal Reserve System to offset costs, and for other purposes."The bill will subsequently undergo review by the Senate, the House of Representatives, and the President to determine whether it will be passed into law.

ChainCatcher news, according to Cointelegraph, within 48 hours, U.S. senators received over 2,200 letters urging them to jointly initiate and support the "Bitcoin Strategic Reserve Act" proposed by Cynthia Lummis.Among them, the Democrats received 1,333 letters, the Republicans received 850 letters, and independents received 41 letters.

ChainCatcher News, U.S. Senator Cynthia Lummis from Wyoming officially introduced the "Bitcoin Strategic Reserve Act" on July 31, local time. This act will instruct the U.S. government to begin establishing a reserve fund for scarce decentralized assets.More specifically, the act will create a "decentralized secure Bitcoin network treasury" controlled by the U.S. Department of the Treasury. The act also instructs lawmakers and bureaucrats to develop strict cybersecurity parameters and other physical security measures to ensure that Bitcoin funds are not stolen. The act also proposes a goal of gradually accumulating 1 million Bitcoins.